East Bay/Oakland office market reports

Q4 2022: Remote work, uncertain economic conditions, and layoffs have all contributed to the increased office vacancy rate in Oakland’s CBD. East Bay’s suburban markets though much higher than pre-pandemic levels have fared better due to a larger percentage of workers living in suburban areas and near employers.

23.3 msf

Inventory

Office inventory remained flat for the quarter with nothing in the construction pipeline.

26k sf

QTD Net Absorption

Net absorption was slightly positive for the quarter, a significant improvement over Q3, which saw 463k of negative absorption.

23.6%

Vacancy Rate

The total vacancy rate was flat over the previous quarter, breaking the trend that saw the twelfth consecutive quarter of vacancy increase in Q3.

6.4 msf

Total Available Square Feet

With several companies downsizing office needs or going fully remote, the amount of office square feet available to the Oakland East Bay market slightly increased over the previous quarter.

$4.29

Direct Asking Rate Full Service

Both Class A and Class B rents were down over the previous quarter as landlords offered lower rents and greater concessions to attract tenants.

$237 m

Total Sales Volume

East Bay office sales volume hit its lowest point since 2012 with little buildings trading hands.

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Get in-depth office market reports and insights from commercial real estate experts in the Greater East Bay/Oakland area. Avison Young advisors look at East Bay/Oakland commercial real estate activities and the latest East Bay/Oakland statistics to provide you expert market research on East Bay/Oakland's office properties.

Explore different topics like the latest office market pricing trends and analysis of East Bay/Oakland's current office real estate market conditions. Gain a better understanding of East Bay/Oaklands office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in East Bay/Oakland's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in East Bay/Oakland.

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